Open end vs closed end mutual fund

Norway’s clout in financial markets far outweighs its economy, which is about a 10th the size of Germany’s. The central bank’s $1 trillion investment fund plows the Nordic nation’s oil income into public securities and has become the biggest of its kind, owning about 1.4 percent of global stocks. Yngve Slyngstad, who grew up in Asker just outside Oslo and received multiple graduate degrees before devoting himself to finance, has been chief executive officer of Norges Bank Investment Management since 2008. The 56-year-old spoke to Bloomberg Markets about what makes a good money manager, how he learns about China’s economy, his concerns regarding information monopolies, and why all investing is active. He also explains his strategy for private equity and real estate and why his fund’s potential divestment from oil company stocks has nothing to do with climate change concerns. While the fund now aims to be 70 percent in equities, he foresees that … [Read more...] about Norway’s $1 Trillion Man Talks Brexit, China and Big Tech

Press play to listen to this article By JACK BLANCHARD PRESENTED BY EXXONMOBIL Send tips here | Subscribe for free | Listen to Playbook and view in your browser Good Friday morning. DRIVING THE DAY EL VETO BONITO: Spanish Prime Minister Pedro Sánchez last night vowed to “veto Brexit” if the Withdrawal Agreement is not rewritten before this weekend’s big summit. In late night tweets the socialist leader announced he and Theresa May “remain far away” on the highly emotive issue of Gibraltar, despite 48 hours of EU and U.K. pressure aimed at forcing Spain to back down. It leaves Theresa May preparing to head for Brussels tomorrow without full agreement among EU member states over the agreed Brexit deal. “After my conversation with Theresa May, our positions remain far away,” Sánchez tweeted in Spanish and English last night. “My government will always defend the interests of Spain. If there are no changes, we will veto … [Read more...] about POLITICO London Playbook, presented by ExxonMobil: El veto bonito — 88 and counting — The job nobody wants